An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1899/1900 |
---|---|
Law Number | 150 |
Subjects |
Law Body
Chap. 150.—An ACT to incorporate the Great Falls and old dominion railway
company.
Approved January 24, 1900.
1. Be it enacted by the general assembly of Virginia, That Joseph §
Miller, Charles 8. Bradley, 8. Thomas Brown, Robert D. Weaver, W alter
Hieston, Walter R. Wileox, and John GC. Ieald, of Washington, District
of Columbia: Joseph Taber Johnson, P. M. Rixey, A. B. Grunwell,
George N. Saeemiuller. George I. Truett. T. B. Jewell, Albert B. Hines,
S.C. Heald, R. W. Moore, George G. Boteler, D. 8S. Mackall, W. W.
Besley, and C. W. Doubleday. of Virginia, or such of them as may accept
the provisions of this act. their associates, successors and assigns, be,
and thev are hereby, incorporated and made a body politic and corporate,
under the name and stvle of the Great Falls and old dominion railroad
company, and as such are authorized and empowered to locate, con-
struct, equip, and operate a railroad, commencing for its main line at
some point on the Potomae river in Alexandria county, Virginia, oppo-
site the District of Columbia. and running thence by the most prac-
ticable route to a point on the Potomac river in Fairfax county or
Loudoun county, in the State of Virginia.
The said company shall have perpetual succession, and have power
to sue and be sued, plead and be impleaded, defend and be defended
in all courts, whether at law or in equity, and may make by-laws and
have a common seal, and alter or renew the same at pleasure, and shall
have, possess and enjoy all the rights and privileges of a corporation or
bedy politic, in the law and necessary for the purposes of this act.
3. The capital stock of the said company shall not be less than thirty
thousand dollars, and may from time to time be increased to any amount
not exeeeding three hundred thousand dollars, by issue and sale of
shares, preferred or common stock, or both, upon such terms and con-
ditions and under such regulations as the board of directors of said
company shall prescribe, the shares of which shall not be less than
ten dollars, nor more than one hundred dollars each, and the directors
may receive cash, labor, material, bonds, stock, real or personal property
in pavment of subscriptions to the capital stock, at such valuation and
at such prices as mav be agreed upon between the directors and the
subscribers, and shall make such subscriptions payable in such manner
or amounts and at such times as may be agreed upon with the sub-
scribers; and whenever one hundred or more shares shall have been
subseribed, and the sum of one thousand dollars paid in cash, the sub-
seribers under the direction of any five of the incorporators herein-
before named, who themselves shall be subscribers, may organize the
said company by electing a president and board of directors, and bv
electing or providing for the appointment of such other officers as may
be necessary for the control and management of the business and affairs
of said company, and thereupon they shall have and exercise all the
powers and functions of a corporation under their charter and the laws
of this state.
4. It shall be lawful for said company to borrow money and issue and
sell its bonds from time to time, and for such sums and on such terms
as its board of directors may deem expedient and proper for any of the
purposes of the company, and it may secure the payment of said bonds
by the mortgages or deed of trust upon all or any portion of its property,
real or personal and mixed, its contracts and privileges and its chartered
rights and franchises, including its franchise to be a corporation; and
it inay, as the business of the company shall require, sell, lease, convey
and encumber the same.
5. It shall be lawful for any other corporation to subscribe to, guar-
antee, or hold the stock or bonds of the said company.
6. The said company is authorized and empowered to locate, equip,
and operate or purchase any lateral or branch railways or tramways,
none of which lateral or branch roads shall exceed twenty-five miles
in length; and the said company may connect or unite its said road with
that of any other company or companies, or consolidate and merge its
stock, property and franchises with and into those of any other com-
pany or companies operating, or authorized to operate a connecting
line of railroad in this state, upon such terms and under such name
as mav be agreed upon between the companies so uniting or connecting,
merging or consolidating, and for that purpose power is hereby given
to it and such other company or companies to make and carry out such
contracts as will facilitate and consummate such connection, merger or
consolidation, or any lease or sale: provided, that a copy of every such
contract of any consolidation and merger be filed in the office of the
board of public works.
7. It shall be lawful for the company to acquire, by donation or pur-
chase, or by condemnation according to the laws of the state, land for
right of way, depots, stations, terminal facilities and other purposes
necessary for the successful construction and operation of its road
through any of the counties where it is authorized to construct its line
of road and its branches.
8. The said company shall have power to cross any other railroad
upon the terms ma in the manner prescribed by the general law for
one work of internal improvement crossing another.
9. The said company shall be required to commence the construction
of said railroad within one year from the passage of this act, and to
complete the construction of ten miles of the main line within three
years thereafter, or otherwise the powers, privileges and franchises
hereby granted may be annulled and become void.
10. Each stockholder in the company shall, at all meetings or clec-
tions, be entitled to one vote for each share of stock registered in his
name. And the president and board of directors of said company may
enact such by-laws, rules and regulations for the management of the
affairs of said company as they may deem proper and expedient.
11. The board of directors shall be stockholders of said company and
shall consist of such number as the stockholders may determine upon,
and shall be elected at the stockholders’ annual mecting, to be held
on such days as the by-laws of the company may direct, and shall con-
tinue in office for the term of one year from and after the date of their
election, and until their successors are elected and accept the duties
of the office, and they shall appoint one of their number president, and
in case of the death, resignation or incapacity of any member of the
board of directors during his term of oijice the said board shall elec
his successor for the unexpired term.
12. Any county, town or city along the line of said railroad, or ans
county adjoining another county through which such line passes may.
pursuant to the general laws of Virginia, subscribe to the capital stock
of the said railroad company, and the said company is authorized tc
accept the same, and the said company may use the county roads ir
such manner as is approved by the county court and board of supervisor:
in all counties through which it passes.
13. The board of directors may establish offices and agencies at such
places as they may deem proper, but the principal office of the company
shall be located in the state.
14. All taxes due the commonwealth by said company shall be paid
in lawful money of the United States, and not in coupons.
15. This act shall be in force from its passage.